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February 22, 2018
Specialty: Office building development
Management: Martin Selig, CEO
Projects: 400 Westlake Ave., a 15-story office saving two facades of the old Firestone auto care center; 3031 Western Apartments, Selig’s first luxury apartment building in downtown Seattle
Company founder Martin Selig responded to questions about his firm’s activities in the Seattle market.
Q: What is your firm’s specialty?
A: Developing office buildings.
Q: Have you seen low vacancy rates in your buildings, and if so, what is driving that?
A: I see no let up in demand.
Q: One of your newer buildings is Third & Lenora. How has the response been?
A: One hundred percent leased to WeWork/WeLive.
Q: Are there any neighborhoods outside of downtown Seattle that you are looking at?
A: Doing a project in Ballard at 15th & Market which is 80 percent leased. Remaining 44,000 square feet is on the third floor.
Q: Seattle commercial properties are benefiting from high-tech expansion. How does that compare with what the city experienced in the late 1990s?
A: About the same, but stronger tenants with financial backing.
Q: Do your tenants prefer new construction or renovations?
A: We have both types of need.
Q: Any signs of economic weakness locally that could slow the hot market?
A: I see no signs of economic weakness. In fact, it’s just the opposite.